Shares of Divi’s Laboratories today plunged by 7 per cent after the company reported a 16.75 per cent decline in consolidated net profit for the fourth quarter ended March 31, 2013.
Divi’s Lab shares tanked 7 per cent to Rs 1,010 on the BSE. At the NSE, the stock tumbled 6.91 per cent to Rs 1,007.40.
Divi’s Laboratories yesterday reported a 16.75 per cent decline in its consolidated net profit at Rs 180.57 crore for the fourth quarter ended March 31, 2013, due to foreign exchange loss during the period.
The company had posted a net profit of Rs 216.91 crore in the same period of previous fiscal.
In the broader market, the BSE benchmark Sensex was trading at 20,176.19, down 47.79 points at 1215 hrs.